I have 120k in cash that I'm hoping to buy a house with.
The approach I've decided on is to look at a number of houses asking in the 150-160k bracket and see if I can get anyone to accept my 120k. Is that a reasonable strategy?
I'm pretty interested in one place that's advertised as 155k, it's been on the market about a month and there are no offers as yet. I'd like to make an offer but am not sure whether I should just explain to the auctioneer that 120k is my entire budget and offer that. Or offer something less but run the risk of not being taken seriously for offering very far below the asking?
Thanks for any advice.
The approach I've decided on is to look at a number of houses asking in the 150-160k bracket and see if I can get anyone to accept my 120k. Is that a reasonable strategy?
I'm pretty interested in one place that's advertised as 155k, it's been on the market about a month and there are no offers as yet. I'd like to make an offer but am not sure whether I should just explain to the auctioneer that 120k is my entire budget and offer that. Or offer something less but run the risk of not being taken seriously for offering very far below the asking?
Thanks for any advice.